FINDLAY, 15 November 2007 –Ohio Treasurer Richard Cordray announced today that homeowners who fell victim to summer floods will be able to apply for assistance until the end of the year.
Cordray is extending the deadline for the Renew Ohio Program to December 28, 2007 at the request of several local banks and citizens, and to be able to use $9 million that is still available in the program.
Renew Ohio was introduced by Cordray this summer after a state of emergency was declared for several counties due to severe storms and floods. The program offers reduced interest rates by three percent on loans of up to $250,000. Cordray set aside $50 million specifically for those who needed to borrow money or refinance their mortgages to get back on their feet after the severe storms and floods.
The original deadline for program applications was October 30.
Additionally, farmers and small business owners can apply for similar interest rate relief through the state’s current Small Business Linked Deposit Program. Those applications will be given priority consideration, Cordray noted. The Ohio Treasury has about $500 million available right now to invest in that program.
For more information about the Renew Ohio or Small Business Linked Deposit Programs, go to: www.ohiotreasurer.gov or call 1-800-228-1102